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20130224
Search Results 0 to 6 of about 7 (some duplicates have been removed)
,000. but the entire economy is headed for trouble in just eight days when massive across-the-board cuts in the federal budget are scheduled to kick in automatically. au these cuts were designed to be so deep and harmful that theyrmfu would force the president and congress to find a better way. but they haven't. just for example, there would be $46 billion cut from the defense department, and benefit cuts for 4.7 million long-term unemployed. we have two reports tonight. first, those defense cuts with david martin. >> reporter: of the 800,000 civilians who work for the work for department of defense, an estimated 700,000 would bema furloughed for one day a week.or according to the pentagon'srd chief budget officer robert hale, that would save between $4en billion and $5 billion, but itll would all come out of people's paychecks. any >> if we feel we don't have any choice but to impose furloughs even though we would much prefer not to do it. of frankly, this is within of the least-- or the most distasteful tasks i have faced in my four years in this job. >> reporter: department of defense civilians run
economy. they will add hundreds of thousands of americans to the unemployment rolls. this is not an abstraction-- people will lose their jobs. the unemployment rate might tick up again. >> pelley: mr. obama wants more tax revenue. the republicans say no, and each side says it's up to the other to give in. major garrett is at the white house for us tonight. major, what next? >> well, the continued effort by the white house, scott, to apply public pressure on republicans to relent. this will be done in public events like we saw today. it's already been done privately. top government officials are warning businesses they could be harmed by these looming spending cuts. here's one example we've learned of. last friday, top officials at the agriculture department warned meat and poultry producers that there might not be enough federal inspectors to keep their processing plants open and operating. these warnings are designed to motivate businesses to plead with republicans to find another way. for now, republicans appear prepared to take these spending cuts, because they sa
, and the economy, you know, is really, really slow. >> reporter: republicans accuse the white house of scare tactics to get a second tax hike. congress will have to make some tough budget choices when they are back in session next week. you think they're doing their job up on the hill? >> no, no. they should come to some kind of agreement. >> reporter: well, it promises to be political theater and liz, it will not
Search Results 0 to 6 of about 7 (some duplicates have been removed)